SICAV
Global Technology Equity Fund
To provide long-term capital growth by investing mainly in technology companies, and companies enabled by technology.
3YR Return Annualised
(View Total Returns)
Total Assets
(USD)
1YR Return
(View Total Returns)
Manager Tenure
Information Ratio
(5 Years)
Tracking Error
(5 Years)
Inception Date 15-Jun-2015
Performance figures calculated in USD
Strategy
Investment Objective
To increase the value of its shares, over the long term, through growth in the value of its investments. The fund invests mainly in a diversified portfolio of stocks of technology development or utilization companies, with a focus on leading global technology companies. The companies may be anywhere in the world, including emerging markets.Investment Approach
- Seeks long-term growth by investing primarily in the common stocks of companies that generate the majority of revenues from the development, advancement, and use of technology.
- Stock selection is driven by rigorous research and analysis of companies, sectors, and industry trends.
- The portfolio invests primarily in the common stocks of technology companies or companies enabled by technology across the entire market capitalization spectrum. We seek companies which can successfully weather economic cycles and deliver sustainable growth through product development and innovation, at a reasonable valuation.
- While our primary emphasis is on a company’s prospects for future growth, valuation can also be an important consideration, particularly when valuation reaches extreme levels.
- The portfolio is less diversified than a non-focused fund and its substantial reward potential is coupled with significant risk. In addition, any foreign holdings could be affected by declining local currencies or adverse political or economic events.
Portfolio Construction
- Typically 35-60 stock portfolio
- Non-U.S. companies typically make up 25-45% of the portfolio
- Portfolio consists of highest conviction ideas from a global perspective
- Diversification across sectors, countries/currencies, and end markets is a risk management tool
- Bottom-up stock picking is used to capitalize on rapid and extreme changes in technology trends
Performance (Class Q)
Annualised Performance
1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
Since Manager Inception Annualised |
|
---|---|---|---|---|---|
Fund % | 73.90% | 27.63% | 26.53% | 25.88% | 43.11% |
Indicative Benchmark % | 45.61% | 26.30% | 26.23% | 23.26% | 40.60% |
Excess Return % | 28.29% | 1.33% | 0.30% | 2.62% | 2.51% |
1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
---|---|---|---|---|
Fund % | 73.90% | 27.63% | 26.53% | 25.88% |
Indicative Benchmark % | 45.61% | 26.30% | 26.23% | 23.26% |
Excess Return % | 28.29% | 1.33% | 0.30% | 2.62% |
Recent Performance
Month to DateData as of 22-Jan-2021 | Quarter to DateData as of 22-Jan-2021 | Year to DateData as of 22-Jan-2021 | 1 MonthData as of 31-Dec-2020 | 3 MonthsData as of 31-Dec-2020 | |
---|---|---|---|---|---|
Fund % | 7.42% | 7.42% | 7.42% | 5.47% | 19.67% |
Indicative Benchmark % | 4.14% | 4.14% | 4.14% | 6.93% | 15.16% |
Excess Return % | 3.28% | 3.28% | 3.28% | -1.46% | 4.51% |
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Index returns shown with reinvestment of dividends after the deduction of withholding taxes.
Effective 1 July 2018, the "net" version of the indicative benchmark replaced the "gross" version of the indicative benchmark. The "net" version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Holdings
Total
Holdings
54
Largest Top Contributor^
Sea
By 1.45%Largest Top Detractor^
Salesforce.com
By -0.24%Top Purchase
Farfetch (N)
2.17%Top Sale
Slack Technologies
0.45%Industry
Total
Industries
N/A
Regions
Total
Regions
4
Largest Overweight
Pacific Ex Japan
Largest Underweight
North America
Countries
Total
Countries
11
Largest Overweight
Singapore
Largest Underweight
United States
Team (As of 15-Jan-2021)

Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.
Alan’s investment experience began in 2012, and he has been with T. Rowe Price since 2014, beginning in the U.S. Equity Division. After that, he was an investment analyst following software companies in the technology sector. He also served as a summer intern in 2013. Prior to T. Rowe Price, Alan was employed by Ananda Capital Management as an analyst, conducting analyses of small-cap Chinese and U.S. equities. He also was a valuation associate at Huron Consulting Group.
Alan earned a B.S., summa cum laude, in business administration from the University of California, Berkeley, and an M.B.A., with honors, from the University of Chicago, Booth School of Business. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Fund manager2019
since - Years at6
T. Rowe Price - Years investment6
experience
Fee Schedule
Share Class | Minimum Initial Investment and Holding Amount (USD) | Minimum Subsequent Investment (USD) | Minimum Redemption Amount (USD) | Sales Charge (up to) | Investment Management Fee (up to) | Ongoing Charges | UK Tax Reporting Status |
---|---|---|---|---|---|---|---|
Class A | $1,000 | $100 | $100 | 5.00% | 175 basis points | 1.87% | Yes |
Class I | $2,500,000 | $100,000 | $0 | 0.00% | 85 basis points | 0.94% | No |
Class Q | $1,000 | $100 | $100 | 0.00% | 85 basis points | 0.97% | Yes |
Class S | $10,000,000 | $0 | $0 | 0.00% | 0 basis points | 0.06% | No |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
T. Rowe Price Funds SICAV and its sub-funds are domiciled in Luxembourg and therefore considered offshore funds for UK tax purposes. Selected share classes of T. Rowe Price Funds SICAV have been designated “Reporting Funds” by HM Revenue & Customs (HMRC) under the guidelines of the UK Offshore Funds Regulation. These share classes report all relevant tax information to HMRC on an annual basis. Details on the information reported are outlined in the SICAV Shareholder Tax Reporting document that is available in the Fund Range Docs drop-down. Investors in “Reporting Fund” share classes who are considered United Kingdom residents for tax purposes will have any accrued gains treated as a capital gain rather than income upon sale or other disposal of their shares.
Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.